Carolina Color acquires competitor Chroma Corp.
Chroma produces custom formulated masterbatch colours, dry colours, additive concentrates, and pre-colour compounds for the packaging, electronic, safety, automotive, recreational, medical, and consumer products industries.
Colourant and additive maker Carolina Color Corp. has purchased competitor Chroma Corp. for an undisclosed amount.
“We are pleased to see Chroma, with its solid reputation in the Midwest, join our incredibly strong colour businesses, Carolina Color, Breen, and Hudson, which were combined last year into Carolina Color,” George Abd, chairman of Carolina Corp.’s board, said in a statement. “By combining these businesses that bring great product technology and reputations in the industry, we continue to execute our strategy of building the finest colorant company serving our markets.”
Headquartered in McHenry, Ill., Chroma has been in business for more than 50 years. The company produces custom formulated masterbatch colours, dry colours, additive concentrates, and pre-colour compounds for the packaging, electronic, safety, automotive, recreational, medical, and consumer products industries.
“We were not considering a sale when approached, but we quickly warmed to the idea after meeting the team, hearing the vision, and reviewing Carolina Color’s considerable progress,” Chroma CEO Tom Bolger said in the statement. “Additionally, I worked with several of the key executives at Carolina Color earlier in my career and know them to be very talented, high-caliber people.”
Salisbury, N.C.-based Carolina Color is composed of four leading specialty colour and additive concentrate supplier brands in the plastics marketplace. The brands now include Breen, Chroma, Hudson, and Carolina Color.
Carolina Color was acquired by investment firm Arsenal Capital Partners in late 2017.